Peter Chou, former CEO of smartphone maker HTC, has retired from the company.

CNET/Stephen Shankland

Former HTC CEO Peter Chou, who built the Taiwanese company into a notable smartphone brand, has officially exited the company.

HTC on Wednesday confirmed that Chou is no longer an advisor to the company and has not been for several months.

"HTC can confirm that Peter Chou retired from the company after assuming the chairmanship of Digital Domain in September 2015, although he was retained as an advisor to enable HTC to leverage his extensive experience," the company said in a statement. "We thank Peter for his long-term commitment to the business and wish him well in his retirement."

Chou, who had been HTC's top executive for more than a decade, was booted from his post last year following negative reviews of the company's 2015 flagship smartphone the One M9.

Cher Wang, HTC's co-founder and chairwoman, replaced Chou as CEO. At the time, the company said Chou would remain at the company in a new role, helping to develop new products.

The move to replace Chou came as HTC faced stiff competition from bigger rivals Apple and Samsung. Amid declining sales, the company had pinned its hopes on the new One M9 smartphone and a range of quirky gadgets such as the HTC Re camera , HTC Grip fitness band and HTC Vive virtual-reality headset.